UPDATE – Brazil utility group acquires three small hydros

Brazilian utility holding company Neoenergia announced it acquired three small hydroelectric projects totaling 46.3 MW from Brascan Energetica.

Neoenergia, a Brazilian unit of Spanish utility Iberdrola, said August 17 that it still required the approval of electricity regulator Agencia Nacional de Energia Eletrica for transfer of the construction authorizations. The company said the projects require a total investment of 257 million reais (US$126.3 million) and will sell power into Brazil’s electricity market.

The projects include 25-MW Sitio Grande on Femeas River, valued at 130 million reais (US$63.9 million). The project already has an installation license. Construction is expected to begin this year with completion in 2009.

Neoenergia also acquired the 11-MW Jatoba and 10.3 MW Palmeiral projects on Grande River. They are in the process of environmental licensing, with construction expected to begin in 2008.

Neoenergia earlier said it began construction August 10 of the 21-MW Nova Aurora project, followed by start of work August 14 on the 28-MW Goiandira project. Both are being built on the Verissimo River in Goais State. (HNN 8/15/07)

Nova Aurora, being built near the town of Nova Aurora, requires an investment of 99 million reais (US$44.3 million). Goiandira, next to the town of Goiandira, requires an investment of 98 million reais (US$49.4 million).

In January, Neoenergia said it planned to invest 1.04 billion reais (US$489 million) in Nova Aurora, Goiandira, and five other hydroelectric projects for a total of 576.1 MW. (HNN 1/31/07)

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